Look at this article of the link.
https://www.arabnews.jp/article/business/article_102133/
As the WTO has announced, the conflict between Israel and Hamas will have a major impact on trade and the global economy.
As a result of this conflict, we are concerned about the following three points in our lives.
① Increase in crude oil prices, ② Cooling down of trade: ③ Impact on East Asia and Europe
① Increase in crude oil prices
As tensions in the Middle East increase, there will be concerns about oil supplies, raising oil prices and putting a strain on energy-dependent countries like Japan.
https://www3.nhk.or.jp/news/html/20231016/k10014226311000.html
The stock price has fallen by more than 700 yen. Crude oil futures prices appear to be rising.
Similar speculations have been made regarding oil prices.
https://www.nri.com/jp/knowledge/blog/lst/2023/fis/kiuchi/1013_2
https://jp.reuters.com/article/column-kazuhiko-tamaki-idJPKBN31I0HM
Countries in the Middle East are criticizing Israel, and if the conflict continues for a long time, oil prices will rise further.
If the price of crude oil rises, Asia and Europe, which are dependent on oil imports, will inevitably experience increased costs for food, agricultural products, manufacturing, transportation, and utility costs.
② Cooling down of trade
If an international conflict heats up, there is a risk that economic sanctions will be imposed on Israel or other Middle Eastern countries.
When economic sanctions are imposed, certain industries and companies are inevitably affected.
③ Impact on East Asia and Europe
In East Asia and Europe, especially Japan, the Japanese yen is currently weak, and if costs increase due to further high oil prices, stock prices will become unstable, and companies will increase costs without making any profits. If that happens, wages will not rise, only prices will rise, making life even more difficult.
The gap in prices between Japan and the oil-producing United States widened, and the yen’s depreciation against the dollar accelerated, leading to an outflow of Japan’s assets.
However, Japan is not the only country affected by this, it can happen all over the world. Above all, I want to think about ways to stop the war itself, even though I don’t have any power.